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credit cards faq/glossary
The most common questions asked about Credits Cards.
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Credit Card Glossary
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P
 
Payment due date
definition
What does payment due date mean?

Pertaining to credit card related terminology, the payment due date is that monthly installment you are required to pay back for your credit. Payment due date is usually a sum indicating the lowest minimum payable by you. In case you fall behind with your payments, late fees are applicable, that is why you should keep paying that minimum required amount each month.

Otherwise, the amounts will be accumulating interest quickly and you will find yourself in no time with a huge debt above your head. Always carefully read the fine print related to the credit you have taken and check terms and conditions applicable; also, check the APR, because the higher it is, the higher your payments due date will be.
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